Allianz Asset Management GmbH Decreases Position in Globe Life Inc. $GL

Allianz Asset Management GmbH cut its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 47.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 127,922 shares of the company's stock after selling 114,344 shares during the period. Allianz Asset Management GmbH owned approximately 0.17% of Globe Life worth $22,857,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. California State Teachers Retirement System increased its stake in shares of Globe Life by 17,904.1% in the second quarter. California State Teachers Retirement System now owns 16,289,720 shares of the company's stock worth $2,910,647,000 after buying an additional 16,199,242 shares during the period. BlackRock Inc. bought a new position in Globe Life in the 2nd quarter worth $987,901,000. Pzena Investment Management LLC purchased a new stake in shares of Globe Life in the 2nd quarter worth about $242,256,000. Norges Bank purchased a new stake in Globe Life in the fourth quarter worth about $155,617,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Globe Life by 34,786.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 881,919 shares of the company's stock worth $123,345,000 after acquiring an additional 879,391 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Price Performance

Shares of GL opened at $174.15 on Tuesday. The firm has a fifty day simple moving average of $178.45 and a two-hundred day simple moving average of $160.91. The firm has a market cap of $13.38 billion, a PE ratio of 11.56 and a beta of 0.46. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a 1-year low of $127.85 and a 1-year high of $191.55.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.67 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business earned $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. On average, equities analysts anticipate that Globe Life Inc. will post 15.71 EPS for the current year.

Globe Life declared that its board has authorized a share repurchase plan on Monday, August 10th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 17.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, October 5th. Globe Life's dividend payout ratio is 8.76%.

Insider Buying and Selling

In other Globe Life news, CFO Thomas Kalmbach sold 25,650 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $178.58, for a total value of $4,580,577.00. Following the transaction, the chief financial officer directly owned 50,568 shares in the company, valued at approximately $9,030,433.44. This trade represents a 33.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Majors sold 37,000 shares of the company's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.64, for a total value of $6,609,680.00. Following the completion of the sale, the executive vice president owned 53,518 shares of the company's stock, valued at approximately $9,560,455.52. The trade was a 40.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 151,908 shares of company stock valued at $27,239,981 in the last 90 days. 2.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GL. JPMorgan Chase & Co. lifted their price target on Globe Life from $181.00 to $201.00 and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Morgan Stanley lifted their price objective on Globe Life from $181.00 to $208.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. TD Cowen lifted their price target on Globe Life from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Wells Fargo & Company increased their price target on shares of Globe Life from $172.00 to $193.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Globe Life from $192.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Globe Life presently has a consensus rating of "Moderate Buy" and an average price target of $191.67.

About Globe Life

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company's product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.

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